From July 7 to 8, the 3rd Working Group Meeting of Sino-Costa Rica FTA Joint Feasibility Study was successfully held in Puntarenas, Costa Rica.

During the meeting, the two sides’ working group conducted consultation on the feasibility study report chapter by chapter and reached an agreement on the full content. Experts from both sides suggested that the two countries launch FTA negotiations as soon as possible after completing their respective domestic necessary procedures.

In June 2007, China and Costa Rica officially established diplomatic relations in October 2007, during President of Costa Rica Arias’ visit to China, the two countries signed the Memorandum of Understanding about Launching Sino-Costa Rica FTA Joint Feasibility Study. And since the joint study launched in January 2008, after six months, the two sides completed the feasibility study report smoothly.

Costa Rica is China's second largest trading partner in Central America, and the bilateral trade is developing rapidly. According to the statistics of China’s Customs, in 2007, Sino-Costa Rica’s bilateral trade volume amounted to USD 2.87 billion, 32 times of which in 2001, and the average annual growth rate reached to 78%. In 2007, imports from Costa Rica to China amounted to USD 2.3 billion, up 32% year on year while exports from China to Costa Rica amounted to USD 570 million, up 39% year on year.